Premier American Uranium Completes Nuclear Fuels Acquisition

• Acquired 100% of Nuclear Fuels Inc. through arrangement completed September 16, 2025
• Issued 32.5 million shares at 0.33:1 exchange ratio to former Nuclear Fuels shareholders
• Added Kaycee and Cyclone exploration projects in Wyoming's Powder River Basin
• Expanded board from five to seven members with two additions from Nuclear Fuels
• Transaction represents Premier American Uranium's second major acquisition in two years

Nuclear Fuels Inc. (CSE: NF, OTCQX: NFUNF) is a uranium exploration company with assets including the Kaycee and Cyclone projects in Wyoming's Powder River Basin. The company's projects were part of what Premier American Uranium described as the largest combined ongoing drilling programme in Wyoming state prior to the acquisition.

Premier American Uranium Inc. (TSXV: PUR, OTCQB: PAUIF) focuses on acquiring uranium assets in the US, with a focus on early-stage exploration and development. The company holds land positions in five uranium districts, with active work programmes in New Mexico's Grants Mineral Belt and Wyoming's Great Divide and Powder River Basins. Strategic partners include Sachem Cove Partners, IsoEnergy Ltd., and Mega Uranium Ltd. The company is backed by institutional investors and led by a team with experience in uranium exploration, development, and operations.

Acquisition Completion & Corporate Integration

Premier American Uranium completed the acquisition of all outstanding Nuclear Fuels common shares on September 16, 2025. Nuclear Fuels became a wholly owned subsidiary under the arrangement. Former Nuclear Fuels shareholders received 0.33 Premier American Uranium shares for each Nuclear Fuels share held.

The transaction resulted in Premier American Uranium issuing 32,521,748 new shares. Nuclear Fuels shares were delisted from the Canadian Securities Exchange at market close on September 16, 2025. The company expects Nuclear Fuels to apply to cease being a reporting issuer under Canadian securities laws.

Haywood Securities Inc. served as financial advisor and received 138,942 Premier American Uranium shares at $1.2955 per share as partial consideration. Former Nuclear Fuels shareholders must complete transmittal procedures through Odyssey Trust Company to receive their shares.

Enhanced U.S. Uranium Portfolio Expansion

The acquisition added Nuclear Fuels' Kaycee and Cyclone exploration projects in Wyoming to Premier American Uranium's portfolio. CEO Colin Healey stated:

"Premier American Uranium expands and enhances one of the strongest exploration portfolios in the United States, anchored by the Kaycee and Cyclone exploration projects in Wyoming, representing the largest combined ongoing drilling program in the State."

Healey commented:

"With the completion of the Nuclear Fuels transaction, Premier American Uranium expands and enhances one of the strongest exploration portfolios in the United States, anchored by the Kaycee and Cyclone exploration projects in Wyoming."

The company now operates across multiple uranium districts including New Mexico's Grants Mineral Belt and Wyoming's Great Divide and Powder River Basins. Healey stated: "In just two short years, we have successfully executed two transformative transactions, further advancing our targeted strategy of consolidation, exploration, and development across the U.S. uranium sector. We continue to cultivate our pipeline of strategic opportunities, leveraging our highly experienced technical team to identify and assess targets for further expansion, and remain committed to advancing our core assets to create long-term value."

Board & Management Restructuring

Premier American Uranium's board expanded to seven members following the acquisition. The board now includes Chairman Tim Rotolo, Marty Tunney, Michael Harrison, Jon Indall, CEO Colin Healey, and two new members from Nuclear Fuels: Gregory Huffman and Brahm Spilfogel.

Daniel Nauth and Michael Henrichsen resigned from the board in connection with the arrangement. The senior management team remains unchanged following the transaction completion.

The expanded board incorporates leadership from both companies whilst maintaining operational continuity. Healey welcomed Nuclear Fuels shareholders and thanked departing directors for their contributions.

Outlook & Next Steps

Premier American Uranium completed its second major transaction within two years. The company states it remains committed to advancing core assets and continues to identify expansion opportunities across the U.S. uranium sector.

Management indicated plans to advance the expanded portfolio whilst maintaining focus on consolidation, exploration, and development activities. The combined entity now operates projects across five uranium districts in the United States.

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